Federal Register / Vol. 75, No. 85 / Tuesday, May 4, 2010 / Notices 23825 

1Notice of the United States Postal Service of 

Classification Change to Add Existing Shipping 

Charges to the Mail Classification Schedule for 

Stamped Envelopes, April 26, 2010 (Notice). 

2See Docket No. MC2009–19, Request of the 

United States Postal Service to Add Stamp 

Fulfillment Services to the Mail Classification 

Schedule in Response to Order No. 391, April 26, 

2010 (Request). The Request was filed at the 

direction of the Commission. See Order Approving 

Addition of Postal Services to the Mail 

Classification Schedule Product Lists, January 13, 

2010 at 31, Ordering Paragraph 5. 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

add postal products to the Mail 

Classification Schedule. This notice 

addresses procedural steps associated 

with this filing. 

DATES: Comments are due: May 19, 

2010. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http:// 

www.prc.gov. Commenters who cannot 

submit their views electronically should 

contact the person identified in the FOR

FURTHER INFORMATION CONTACT section 

by telephone for advice on alternatives 

to electronic filing. 

FOR FURTHER INFORMATION CONTACT: 

Stephen L. Sharfman, General Counsel, 

202–789–6820 and 

stephen.sharfman@prc.gov. 

SUPPLEMENTARY INFORMATION: On April 

26, 2010, the Postal Service filed a 

notice of an amendment to the Mail 

Classification Schedule (MCS) language 

for the stamped envelope price category 

in the Ancillary Services product in 

Special Services.1 In its filing, the Postal 

Service points out that the current MCS 

language for the stamped envelope price 

category includes pricing for 

personalized stamped envelopes, but 

omits applicable shipping charges. Id. at 

1. 

The Postal Service states that while 

orders for personalized stamped 

envelopes are placed with its Stamp 

Fulfillment Services office, orders are 

actually fulfilled by a private printer 

located in another state. Currently 

effective shipping charges for orders 

fulfilled by that printer are set forth in 

the Ordering Instructions for 

Personalized Stamped Envelopes (PS 

Form 3202–X, October 2009). Id., 

Attachment A. 

The Postal Service states further its 

belief that the appropriate place to 

include shipping charges for stamped 

envelopes is in the Stamped Envelope 

section of the MCS, rather than in the 

new Stamp Fulfillment Services product 

that it has requested be added to the 

MCS.2 Attachment B to the Notice 

shows the proposed changes to the 

Stamped Envelope MCS language in 

section 1505.19 of the MCS. These 

charges are a continuation of the 

existing charges already being paid by 

customers. 

The Commission hereby provides 

public notice of the Postal Service’s 

filing and affords interested persons the 

opportunity to express views and offer 

comments on the proposed MCS 

classification change. Comments are due 

May 19, 2010. 

The Commission appoints Emmett 

Rand Costich to serve as Public 

Representative in this docket. 

It is ordered: 

1. The Commission establishes Docket 

No. MC2010–23 for consideration of the 

matters raised in this docket. 

2. Pursuant to 39 U.S.C. 505, Emmett 

Rand Costich is appointed to serve as 

officer of the Commission (Public 

Representative) to represent the 

interests of the general public in these 

proceedings. 

3. Comments by interested persons in 

this proceeding are due no later than 

May 19, 2010. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Shoshana M. Grove, 

Secretary. 

[FR Doc. 2010–10399 Filed 5–3–10; 8:45 am] 

BILLING CODE S 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, May 6, 2010 at 2 p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(5), (7), 9(B) and (10) and 

17 CFR 200.402(a)(5), (7), 9(ii) and (10), 

permit consideration of the scheduled 

matters at the Closed Meeting. 

Commissioner Paredes, as duty 

officer, voted to consider the items 

listed for the Closed Meeting in a closed 

session. 

The subject matter of the Closed 

Meeting scheduled for Thursday, May 6, 

2010 will be: 

Settlement of injunctive actions; 

A litigation matter; 

An adjudicatory matter; and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact: The Office of the Secretary at 

(202) 551–5400. 

Dated: April 29, 2010. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–10490 Filed 4–30–10; 11:15 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61991; File No. SR– 

NASDAQ–2010–050] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by the 

NASDAQ Stock Market LLC Relating to 

the Opening of Trading in the NASDAQ 

Options Market 

April 27, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on April 15, 

2010, The NASDAQ Stock Market LLC 

(‘‘Nasdaq’’ or the ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the Exchange. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Nasdaq is filing a proposal for the 

NASDAQ Options Market (‘‘NOM’’ or 

‘‘Exchange’’) to to [sic] modify Chapter 

VI, Section 8 of the Exchange’s rules, 

dealing with the Nasdaq Opening Cross. 

The text of the proposed rule change 

is available from Nasdaq’s Web site at 

http://nasdaq.cchwallstreet.com, at 

Nasdaq’s principal office, and at the 

Commission’s Public Reference Room. 

mstockstill on DSKH9S0YB1PROD with NOTICES

23826 Federal Register / Vol. 75, No. 85 / Tuesday, May 4, 2010 / Notices 

3 ‘‘Imbalance’’ is defined in Section 8(a)(1) of 

Chapter VI as the number of contracts of Eligible 

Interest that may not be matched with other order 

contracts at a particular price at any given time. 

4Section 8(a)(5) of Chapter VI defines ‘‘Market for 

the Underlying Security’’ as meaning either the 

primary listing market, the primary volume market 

(defined as the market with the most liquidity in 

that underlying security for the previous two 

calendar months), or the first market to open the 

underlying security, as determined by the Exchange 

on an issue-by-issue basis and announced to the 

membership on the Exchange’s Web site. 

5 If all the conditions specified in Section 8(b) of 

Chapter VI have been met except that there is an 

Imbalance, Section 8(b)(5) requires one additional 

Order Imbalance Indicator message to be 

disseminated, after which the Opening Cross 

occurs, executing the maximum number of 

contracts. Any remaining Imbalance that is not 

executable in the Opening Cross is canceled. 

6 If there is interest in the Opening Cross, the 

option will not open for trading in that option until 

the orders that would be executed in the Opening 

Cross are resolved through the cancellation or 

modification of the orders by the entering party or 

parties. 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. Nasdaq has satisfied this requirement. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

NASDAQ included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. 

NASDAQ has prepared summaries, set 

forth in Sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Nasdaq proposes to modify Chapter 

VI, Section 8 of the rules governing 

NOM, and in particular governing the 

opening of trading in that market. 

Currently, pursuant to Chapter VI, 

Section 8(b) of NOM’s rules, the Nasdaq 

Opening Cross occurs once certain 

preconditions are met. Section 8(b) of 

Chapter VI permits the Opening Cross to 

occur at or after 9:30 if there is no 

Imbalance 3, if the dissemination of a 

quote or trade by the Market for the 

Underlying Security 4 has occurred (or, 

in the case of index options, the 

Exchange has received the opening 

price of the underlying index) and if a 

certain number (as the Exchange may 

determine from time to time) of other 

options exchanges have disseminated a 

firm quote on the Options Price 

Reporting Authority (‘‘OPRA’’).5

Section 8(c) of Chapter VI governs 

situations in which the requisite 

number of firm quotes have not been 

disseminated for an option by other 

options exchanges. No Opening Cross 

will occur if firm quotes are not 

disseminated for an option by the 

predetermined number of options 

exchanges until such time during the 

day that the Exchange determines. In 

that case, provided dissemination of a 

quote or trade by the Market for the 

Underlying Security has occurred (or, in 

the case of index options, the Exchange 

has received the opening price of the 

underlying index) the option will open 

for trading.6

The Exchange is proposing to amend 

both Section 8(b) and 8(c) of Chapter VI 

to clarify in each case that the 

dissemination of a quote or trade by the 

Market for the Underlying Security must 

occur during regular trading hours in 

order for the NOM opening cross to 

occur in that option. These amendments 

would establish clearly that this 

precondition for opening trading in an 

option on NOM would not be met if, for 

example, the Market for the Underlying 

Security were to both open and then 

halt trading prior to regular trading 

hours which currently begin at 9:30 a.m. 

The Exchange is also proposing to 

amend Section 8(c)(2) of Chapter VI to 

clarify that if opening quotes or orders 

lock or cross each other such that an 

Opening Cross can be initiated, the 

Exchange may open for trading in that 

option even if the orders that would be 

executed in the Opening Cross are not 

cancelled or modified so that they no 

longer lock or cross each other, if and 

when the number of options exchanges 

required under the introductory 

language of Section 8(b) of Chapter VI 

for the opening of trading of System 

securities have disseminated a firm 

quote on OPRA. This amendment will 

not make a change in the operation of 

the trading system, but will merely 

clarify the intended NOM opening 

process. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 7 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 8

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general to protect 

investors and the public interest. 

Nasdaq believes that the proposal is 

consistent with this standard because 

the proposed rule change is designed to 

clarify its rules for the benefit of all 

market participants. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange believes that the 

foregoing proposed rule change may 

take effect upon filing with the 

Commission pursuant to Section 

19(b)(3)(A) of the Act 9 and Rule 19b– 

4(f)(6) 10 thereunder because the 

foregoing proposed rule change does 

not: (i) Significantly affect the 

protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NASDAQ–2010–050 on the 

subject line. 

mstockstill on DSKH9S0YB1PROD with NOTICES

Federal Register / Vol. 75, No. 85 / Tuesday, May 4, 2010 / Notices 23827 

11The text of the proposed rule change is 

available on the Commission’s Web site at http:// 

www.sec.gov/rules/sro.shtml. 

12 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 61876 

(April 8, 2010), 75 FR 19436 (April 14, 2010) (SR– 

NASDAQ–2010–025). 

4NASDAQ OMX also amended its Corporate 

Governance Guidelines to reflect the majority vote 

standard for uncontested director elections. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NASDAQ–2010–050. This 

file number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission,11 all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, on official business 

days between the hours of 10 a.m. and 

3 p.m. Copies of the filing also will be 

available for inspection and copying at 

the principal office of the Exchange. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–NASDAQ–2010–050 and 

should be submitted on or before May 

25, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–10275 Filed 5–3–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61993; File No. SR–BX– 

2010–029] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NASDAQ 

OMX BX, Inc. To Amend the By-Laws 

of The NASDAQ OMX Group, Inc. 

April 27, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1, and Rule 19b–4 2 thereunder, 

notice is hereby given that on April 9, 

2010, NASDAQ OMX BX, Inc. (‘‘BX’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to file a 

proposed rule change relating to the ByLaws of its parent corporation, The 

NASDAQ OMX Group, Inc. (‘‘NASDAQ 

OMX’’). 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://www.nasdaqtrader.com/ 

micro.aspx?id=BXRulefilings, at the 

principal office of the Exchange, on the 

Commission’s Web site at http:// 

www.sec.gov, and at the Commission’s 

Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

NASDAQ OMX has proposed making 

certain amendments to its By-Laws to 

make improvements in its governance. 

In SR–NASDAQ–2010–025, The 

NASDAQ Stock Market LLC (‘‘NASDAQ 

Exchange’’) sought Commission 

approval to adopt these By-Laws 

changes as part of the rules of NASDAQ 

Exchange, and the Commission granted 

approval to these changes in an order 

dated April 8, 2010.3 The Exchange is 

now submitting this filing on an 

immediately effective basis to adopt the 

same By-Law changes as rules of the 

Exchange. 

The NASDAQ OMX By-Laws 

previously provided that each director 

receiving a plurality of the votes at any 

election of directors at which a quorum 

is present is duly elected to the Board. 

Under Corporate Governance Guidelines 

adopted by the Board, however, any 

director in an uncontested election who 

received a greater number of votes 

‘‘withheld’’ from his or her election than 

votes ‘‘for’’ such election was required to 

tender his or her resignation promptly 

following receipt of the certification of 

the stockholder vote. The NASDAQ 

OMX Nominating & Governance 

Committee then considered the 

resignation offer and recommended to 

the Board whether to accept it. Within 

90 days after the certification of the 

election results, the Board determined 

whether to accept or reject the 

resignation. Promptly thereafter, the 

Board announced its decision by means 

of a press release. In a contested election 

(i.e., where the number of nominees 

exceeds the number of directors to be 

elected), the unqualified plurality 

standard controls. 

Uncontested Election 

NASDAQ OMX recently amended its 

By-Laws to adopt a majority vote 

standard, specifically By-Law Article IV, 

Section 4.4 of the By-Laws was 

amended to provide that, in an 

uncontested election, directors shall be 

elected by holders of a majority of the 

votes cast at any meeting for the election 

of directors at which a quorum is 

present.4 Under the majority voting 

standard, a nominee who fails to receive 

the requisite vote will not be duly 

mstockstill on DSKH9S0YB1PROD with NOTICES